Parcha builds AI agents that automate compliance and operations workflows for banks and fintech companies, covering business due diligence, KYC/KYB checks, and AML screening. The company was founded in San Francisco in March 2023 by AJ Asver and Miguel Rios-Berrios, who previously worked on scaling Brex's operations.
The agents pull from open-source intelligence, proprietary datasets, and current language models to complete document verification and business classification, screening for prohibited industries such as adult entertainment, cannabis, firearms, gambling, and money services. A basic business-profile check completes in under 30 seconds, while comprehensive due diligence that would take a compliance analyst 24 or more hours completes in 2 to 3 hours, with the company reporting review speeds up to 10 times faster than manual work and false-positive rates cut by up to 90 percent.
Parcha targets compliance and risk teams at banks, fintechs, and payment platforms that need to approve customers faster without loosening standards. New users get 1,000 free credits to test an agent through the Agent Hub, and production pricing for ongoing use requires talking to sales; the company holds SOC 2 Type 2 certification.
